On Monday, crypto analyst Paul Barron took to social media to celebrate a major milestone, announcing that the XRPL had “smashed” $1 billion in on-chain tokenized assets.
However, Luke Judges, a Ripple team member, quickly stepped in to correct the record with a much bigger number.
December surge
According to Judges, the $1 billion figure is already outdated history.
“We’re past 2 FYI,” Judges replied, revealing that the network had actually crossed the $2 billion milestone some time ago.
He attributed the discrepancy to data lag, noting that the team has been waiting for analytics provider @RWA_xyz to index the new assets with their partners.
Most strikingly, Judges took note of the velocity of this adoption. “In December alone, we doubled [market cap] of RWA from 1BN to 2BN on the XRPL,” he wrote.
Capital market coming On-chain
Despite the massive December inflow, Judges emphasized that the mission is far from complete. “Capital markets will come on-chain,” he stated. “Jobs not done till there’s a fully fledged, deep & mature ecosystem around these assets.”
Ripple has been aggressively executing a strategy to transform the XRP Ledger (XRPL) from a payment network into institutional financial infrastructure. Ripple invested $10 million directly into OpenEden’s TBILL tokens. This partnership brought short-term US Treasury bills onto the XRPL, offering investors a “risk-free” yield product that lives entirely on-chain.
The partnership with Archax, the UK’s first FCA-regulated digital securities exchange, is also critical. Archax has committed to bringing “hundreds of millions” in tokenized assets to XRPL, including tokenized access to funds from traditional giants like abrdn.